NEW YORK, Oct. 30, 2017 () — Read the full report: https://www.reportlinker.com/p05166505
Worldwide demand for silicones is forecast to climb 5.1% per year through 2021 to $18.3 billion.
Consumption of silicone-based consumer goods and construction materials will rise on the tide of the global emerging middle class.
As personal incomes rise, demand for such items as high shine architectural and automotive coatings, large, comfortable vehicles, and personal care products will also continue to grow.
The Asia/Pacific region, in particular, will see above average demand gains.
Key Findings in the Global Silicones Study:
Green energy spurs growth in the electrical and electronics market
Silicone is instrumental in the manufacture of solar panels and LEDs, and silicone components and lubricants are also utilized in wind turbines.
As a result, the takeover of renewable energy in the power generation industry and energy-efficient lighting in both public and private spaces will ensure market growth for silicones into the long term.
Key opportunities in the green energy segment include:
• elastomers in wind turbine components and as encapsulants in vehicle LEDs
• fluids as lubricants
• gels as encapsulants
Aging populations across the globe stimulate gains in health and personal care applications
A demographic shift is occurring across the globe, as birthrates in many countries fall and older people live longer.
Among the silicone types that will record gains as a result of greater demand in health and personal care applications are:
• elastomers in skin adhesives, prosthetics, and disposables (tubing, etc.)
• fluids in pharmaceuticals and personal care products
• gels and foams in adhesives and wound care
Larger, fancier cars driving gains in the motor vehicle market
Light trucks and SUVs have long been popular in the North American vehicle market, but they are now taking off all over the world, particularly among the rising middle class of the Asia/Pacific region. These trends toward larger vehicles will support demand for silicones in the following applications:
• elastomers in lightweight, durable components
• fluids in high-performance lubricants
• resins in high-shine coatings
This industry study presents historical demand (2006,2011, 2016) and forecasts (2021) by market (construction, electrical & electronic, transportation, health & personal care, chemical, and other) and product (elastomers, fluids, resins, gels & other). In addition to demand by market and product for 15 countries, sales in volume terms are also provided for each country and region, and for each market and product at the global level.
Market share and competitive factors are also evaluated for market leaders Dow Corning, Wacker Chemie, Momentive Performance Materials, Shin-Etsu Chemical, Bluestar Silicones, and Evonik Industries.
Read the full report: https://www.reportlinker.com/p05166505
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